Small Business Planning - Live The Plan!

Small Business Planning Pillar #10: Live The Plan!

Your small business and your small business planning are two sides of the same coin. If you put your business plan on the shelf to gather dust, that’s where you’re business will end up too.

Throughout this small business planning process, I have tried to emphasise that business planning is a living, breathing process, it has no end. It continuously evolves, improves, matures.

The human body completely regenerates itself every seven years. In seven years time not one cell of your body today will exist. Yet it will still be you. In seven years time, your business plan might also have completely regenerated itself. But it will still be your business plan.

One thing is for sure though – if you stop feeding your small business plan it will wither and die, along with your business.

Ok, so I need to live my small business plan. But what does that mean in practice?

Good question. In practice, you have to work it out for yourself, whatever works best for you. But as a starter, let me share with you my method of living the plan. I have used this for many years and it’s not let me down yet.

7 golden rules of living your small business planning

- Always have a copy of your current business plan to hand and refer to it daily.

- Make sure key personnel in your business carry a copy of the current version of the plan and refer to it daily.

- Schedule regular business plan review sessions. Involve those who either input to the plan or who work directly from it.

- Review your plan away from the business. This helps to gain a clearer perspective and promotes a creative, brainstorming frame of mind.

- Have pen and paper to hand (or in my case a Blackberry) and be ready to pluck a continuous stream of great thoughts from your subconscious and note them down. Resist the temptation to update your plan on the fly. Always wait until the next review day.

- Ensure each version of your business plan is numbered. (ie 1.1, 1.2, 1.3 etc) and keep a copy of all previous versions.

- Be true to your plan. Ensure your intrapreneurial business decisions are consistent with the plan.

Remember – your small business planning drives your business and your business drives your small business planning.

Ten Pillars Of Small Business Planning – Introduction

Small Business Planning Pillar #1: How To Start A Business Plan – Mindset

Small Business Planning Pillar #2: Strategy

Small Business Planning Pillar #3: Mini Business Strategies And Postage Stamps

Small Business Planning Pillar #4: Changing Gear: Seed Money & Intrapreneurs

Small Business Planning Pillar #5: Rapid Content Building

Small Business Planning Pillar #6: The Four Financial Statements

……Small Business Planning Pillar #6.1: Profit And Loss Statement (P&L)

……Small Business Planning Pillar #6.2: Cash Flow Statement (Forecast)